CHENNAI: Karnataka Bank, a private sector bank, today signed a MoU with Bajaj Allianz General Insurance to provide the latter's products to bank's customers. Anathakrishna, Chairman, Karnataka Bank, told reporters after signing the MOU that the Bajaj Allianz's reach and network would be a great help to the bank's quest to become an integrated financial solution provider. Sam Ghosh, CEO, Bajan Allianz, said Karnataka bank was the ninth bank to have a tie up with his company.

MANGALORE: Karnataka Bank has signed a Memorandum of Understanding with the National Bulk Handling Corporation for extending storage facilities to farmers. The MoU was signed at the bank's headquarters here yesterday, the bank said in a release. NBHC is one of the leading collateral management service providers with a pan-India presence, managing around 1,500 warehouses and cold storages. Finance to farmers would be extended under the 'Ktishik Bhandar' scheme of the bank.

Shares of Karnataka Bank gained 3% on Thursday despite a weak market amid an old buzz that resurfaced. Brokers are again talking about a possible merger between Karnataka Bank and Kotak Mahindra Bank. According to market sources, Kotak Mahindra Bank which approached Karnataka Bank two years ago with a similar proposal, has once again sent feelers to the old South-based bank. Karnataka Bank stock price has surged nearly 27% in the past one month amid speculation that talks are on. However, an official from Kotak Mahindra Bank said that there was no truth in the story while a query sent to Karnataka Bank did not elicit a response till the time of going to press.

In a chat with ET Now, CK Narayan, Growth Avenues Asset Advisors shares his views about Karnataka Bank. ET Now: What is the call on Karnataka Bank? CK Narayan: Buy Karnataka Bank as it has seen nice breakout upward from a very small range triangle. This is a news bagged kind of share which often gets visited with some amount of excess momentum periodically. So, look to buy KTK Bank with stop loss of about 104 and target of about 116-180.

MUMBAI: Private sector Karnataka Bank on Tuesday said it will seek shareholders' approval to raise Rs 500 crore through qualified institutional placement (QIP). The board has resolved to seek shareholders approval to raise Rs 500 crore through the QIP route, Karnataka Bank said in a filing to the Bombay Stock Exchange. Shares of the bank surged 5.02 per cent to touch a high of Rs 151. It was later trading at Rs 146.50, up 1.95 per cent in early trade on the BSE.

In an exclusive interview with ET Now , Sandeep Wagle , Founder & MD, APTART Technical Advisory Services, talked about Karnataka Bank . Excerpts: What is your view on Karnataka Bank? It has already started being discounted in the price. Yesterday, its price rise supported with good volumes. Today, a minor correction of 1.3%. I would take this opportunity to buy. We have a buy in the range of 180 to 177. Currently, it is somewhere around 179. Stop loss of 174 and a target of 195, again a 5% to 7% to 8% upside over the next week or so.

CHENNAI: Bharat Overseas Bank on Wednesday signed an agreement with Karnataka Bank, agent of the Western Union Financial Services, which would enable the former to provide inbound money transfer services. Ratheesh Kumar, regional manager of Western Union Financial Services, Ananthakrishna, chairman of Karnataka Bank, and G Krishnamurthy, chairman of Bharat Overseas, told reporters that tie-up would meet safe and convenient money transfer needs of NRIs from Tamil Nadu. To begin with, Bharta Overseas would offer the services from its 24 branches and another 58 branches would be added to the network in the second phase, they said.

In an exclusive interview with ET Now , Sandeep Wagle , Founder & MD, APTART Technical Advisory Services, talked about Karnataka Bank. Excerpts: What are your views on Karnataka Bank? Basically, Karnataka Bank is in an uptrend. It managed to clear 179 in November and even at current levels, it is threatening to clear that. Once very important resistance is cleared, 7-8-10% push easily goes through and that is what we are targeting.

MUMBAI: International Finance Corporation (IFC), the private sector lending arm of World Bank, will pick up stake worth Rs 143.39 crore in Mangalore-based Karnataka Bank through preferential issue of shares. Karnataka Bank will issue 63.73 lakh shares to IFC on preferential basis at Rs 225 apeice after obtaining the approval of Reserve Bank of India, the private sector said in a communique to the Bombay Stock Exchange. On October 5, the bank had issued bonds worth 10 million dollar to Washington-based IFC on private placement basis.